Central Banks
ECB's Tumpel-Gugerell on TARGET2-Securities
In the speech 'TARGET2-Securities meeting with market participants' given on 18 December Gertrude Tumpel-Gugerell of the ECB said safe and efficient clearing and settlement systems are essential for the overall functioning of the financial market and for…
Is the RBI being irrationally exuberant?
According to this article from Rediff News, published Saturday 16 December, asks whether the Reserve Bank of India's recent decision to raise interest rates is an exercise in "rear window" economics.
Interview with RBI’s Bimal Jalan
In an interview with Money Control, published Wednesday 20 December, Dr Bimal Jalan, eminent economist and former Reserve Bank of India governor analyses the actions of the Thai central bank and gives his suggestions for other central banks.
BoE committee voted unanimously to hold rates
The Bank of England's Monetary Policy Committee voted unanimously to hold its key repo rate unchanged at a five-year high of 5.00, minutes released Wednesday 20 December showed.
NBP holds rates steady
The National Bank of Poland kept interest rates unchanged Wednesday 20 December, as widely expected, despite strong economic growth.
Roth on seventy years after the gold standard
In the speech 'Seventy years after - the final collapse of the gold standard in September 1936' given on 15 December Jean-Pierre Roth of the Swiss National Bank said the Swiss like to remember that their currency has only been devalued once since its…
ECB report on accounting standards
The European Central Bank (ECB) on 19 December published a report entitled "Assessment of accounting standards from a financial stability perspective" prepared by the ESCB Banking Supervision Committee.
Central banks sign MoU on financial crises
An agreement entitled "Memorandum of Understanding on Management of a financial crisis in banks with cross-border subsidiaries or branches" was signed in Stockholm Monday 18 December by the central banks of Sweden, Estonia, Latvia and Lithuania.
Iran plans move towards euro from dollar
A spokesman for the Iranian government said Monday 18 December that the Central Bank of Iran will convert the state's foreign dollar holdings into euros and use the euro for foreign transactions.
ECB's Stark says eurozone rates still low
European Central Bank (ECB) Chief Economist Juergen Stark said Thursday 14 December the bank's interest rate policy is still accommodative and noted that levels are low.
Ireland's Hurley on SEPA and NPIP
In the speech 'The challenges ahead - SEPA and NPIP' given on 12 December John Hurley of the Central Bank and Financial Services Authority of Ireland said the SEPA project aims to ensure that all consumers throughout the euro area will have available to…
Sweden's Riksbank raises rates to 3%
The Sveriges Riksbank increased its repo rate to 3.00 pct from 2.75 pct Friday 15 December in response to rising inflation combined with continued good levels of economic activity.
Conference announcement and call for papers
The Sveriges Riksbank has announced a conference "The Evolution of Financial Markets and Financial Institutions: New Threats to Financial Stability" will take place between 5-7 September 2007. The conference seeks to gather academics and policymakers to…
Poland's central bank nominee withdraws candidacy
The Polish president's office said Thursday 14 December that Jan Sulmicki, who was nominated earlier this week as the next governor of the National Bank of Poland, has withdrawn his candidacy for "personal reasons".
BoJ poised to leave rates unchanged - report
The Bank of Japan is expected to keep interest rates unchanged next week in its final policy board meeting for 2006, the Nihon Keizai Shimbun reported Wednesday 13 December, without citing sources.
SNB raises interest rates by 25 basis points
Swiss National Bank (SNB) president Jean-Pierre Roth told a half-yearly press conference on Thursday 14 December the SNB will continue to pursue its strategy of gradual normalisation of monetary policy if the economy behaves as expected.
Slovenia 'well prepared' for euro
Slovenia has entered the final phase of preparations for the launch of the euro on New Year's Day, and is ready for the switchover, a central bank official said Thursday 14 December.
Polish president proposes surprise NBP candidate
Polish President Lech Kaczynski named economics professor Jan Sulmicki as his candidate for governor of the National Bank of Poland, the president's office said in a statement on Tuesday 13 December.
US Fed keeps benchmark rate unchanged
The U.S. Federal Reserve held key interest rates steady at 5.25 percent for a fourth straight meeting on Tuesday 12 December, while renewing a warning that risks from inflation remain.
Norges Bank raises rates to 3.50%
The Norwegian central bank said Wednesday 13 December it has decided to raise the sight deposit rate to 3.50 pct from 3.25 pct, effective from Thursday.
Canada's Dodge on financial system efficiency
In the speech 'Improving financial system efficiency: The need for action' given on 11 December David Dodge of the Bank of Canada said Canada's macroeconomic policies are second to none in supporting financial system efficiency, but work is needed to…
Papademos on the ECB's Financial Stability Review
In opening remarks to the ECB's Financial Stability Review press conference given on 11 December Lucas Papademos of the ECB said robust growth of credit to the euro area private sector could pose an upside risk to price stability.
ECB's Financial Stability Review, December 2006
The European Central Bank published its December 2006 Financial Stability Review on 11 December. In the report the ECB said the euro area financial system has proven resilient to adverse disturbances.
Side effects for ECB transparency
This article from the Financial Times, published Monday 11 December, says that a mixture of good luck and good judgment has made this a good year for the ECB.